I have a doubt . Is there any thing like if a person's basic salary is less than 15000 mandatory pf deduction would be flat 1800 & whose basic salary is more than 15000 then mandatory deduction would be 12% on basic?(Except Esi employee) ?
If basic is less than 15k, consider all allowances except HRA for pf calculation.otherwise 12% on actual basic
Contribution can be limited to 15k independent of higher the basic component
Hi Anonymous,
Actually it is vice versa of what you have said.
If the BP is less that Rs.15000, 12% of all components except HRA
If the BP is more than Rs.15000, the contribution is restricted to Rs. 1800
If bp + DA less than 15k cont. Calculated on 10 or 12 % on actual basis .
If bp + DA @ more than 15k and if employer following minimum slab of EPF/EPS it should be restrict 15k and pf cont. Will be 1800.
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